7th February 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices eased down yesterday afternoon with the larger decreases displayed at the front of the curve. Milder weather is expected this month and supply levels are healthy; Norwegian and Russian flows are strong, in addition to numerous LNG deliveries expected to dock in the next few weeks. Power prices were little changed on Wednesday with weaker gas contracts offsetting the effects of a rise in coal and carbon. Similar temperatures and generation levels were also forecast for today, minimising any changes to the front of the curve.
Market Open Market Open
The system has fallen slightly short this morning due to a drop in flows from the Netherlands. This has offered support to some contracts, with further bullish sentiment provided by a rise in coal and carbon, however, the overall picture is stable. Power contracts are slightly higher this morning, taking direction from gains displayed by gas, coal and carbon markets. Despite this, overall fundamentals are little changed and any gains are minimal.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent 1st-nearby prices rose by around $0.70/b yesterday due to a supportive EIA report. Crude oil currently trades close to its 20-day average, with OPEC production cuts and sanctions on Venezuela continuing to provide bullish pressure.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased slightly – closing at 54.10ppt and £56.48/MWh, respectively.

Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.

Click graph to enlarge

energy price graph - 08-02-2019

If you would like to learn more about how Apollo Energy can help your business find the best deal on its gas and energy contracts then feel free to get in touch by calling us on 01257 239500 or using the form on our contact form.